Fortive Co. (NYSE:FTV) Shares Sold by Fmr LLC

FMR LLC reduced its stake in Fortive Co. (NYSE:FTV - Free Report) by 25.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,669,603 shares of the technology company's stock after selling 2,267,540 shares during the quarter. FMR LLC owned approximately 1.92% of Fortive worth $526,432,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FTV. Advisors Asset Management Inc. acquired a new stake in shares of Fortive during the 1st quarter worth approximately $32,000. B. Riley Wealth Advisors Inc. raised its position in Fortive by 18.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,628 shares of the technology company's stock valued at $312,000 after purchasing an additional 557 shares during the period. Swedbank AB purchased a new stake in Fortive in the first quarter valued at $6,799,000. Cetera Investment Advisers lifted its stake in shares of Fortive by 599.3% in the 1st quarter. Cetera Investment Advisers now owns 52,546 shares of the technology company's stock valued at $4,520,000 after purchasing an additional 45,032 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Fortive by 24.1% during the 1st quarter. Cetera Advisors LLC now owns 9,519 shares of the technology company's stock worth $819,000 after purchasing an additional 1,848 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Fortive Stock Up 0.0 %

FTV stock traded up $0.01 during mid-day trading on Friday, reaching $79.33. The company had a trading volume of 1,234,827 shares, compared to its average volume of 2,003,695. The firm has a fifty day simple moving average of $76.23 and a 200 day simple moving average of $74.24. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 1.25. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Fortive had a net margin of 14.35% and a return on equity of 12.56%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm's revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Fortive Co. will post 3.85 earnings per share for the current fiscal year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, November 29th. Fortive's dividend payout ratio (DPR) is presently 12.75%.

Analyst Ratings Changes

FTV has been the topic of a number of recent analyst reports. Barclays decreased their target price on shares of Fortive from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Raymond James upgraded shares of Fortive from a "market perform" rating to an "outperform" rating and set a $85.00 price objective on the stock in a report on Thursday, September 5th. Mizuho upgraded shares of Fortive from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $80.00 to $90.00 in a report on Friday, September 6th. Wolfe Research cut Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Finally, Truist Financial dropped their price objective on Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Fortive currently has a consensus rating of "Moderate Buy" and an average price target of $87.82.

Insider Buying and Selling at Fortive

In other news, SVP Stacey A. Walker sold 171,808 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $71.71, for a total value of $12,320,351.68. Following the transaction, the senior vice president now owns 42,651 shares in the company, valued at approximately $3,058,503.21. This represents a 80.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jonathan L. Schwarz sold 14,223 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total value of $1,049,657.40. Following the sale, the senior vice president now owns 68,161 shares of the company's stock, valued at approximately $5,030,281.80. The trade was a 17.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,895 shares of company stock worth $14,261,051 over the last ninety days. Corporate insiders own 1.01% of the company's stock.

Fortive Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.